Vivakor (NASDAQ:VIVK) Trading Down 23.4% – Here’s Why

Shares of Vivakor, Inc. (NASDAQ:VIVK) fell 23.4% during trading on Monday . The stock traded as low as $0.25 and last traded at $0.27. 30,111,714 shares were traded during mid-day trading, an increase of 6,543% from the average session volume of 453,301 shares. The stock had previously closed at $0.35.

Vivakor Price Performance

The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $12.85 million, a P/E ratio of -0.25 and a beta of 1.04. The company’s 50-day simple moving average is $0.76 and its 200 day simple moving average is $0.81.

Vivakor (NASDAQ:VIVK) last posted its earnings results on Tuesday, August 19th. The company reported ($0.30) EPS for the quarter. The business had revenue of $29.10 million during the quarter. Vivakor had a negative return on equity of 31.68% and a negative net margin of 29.87%.

Institutional Trading of Vivakor

A hedge fund recently raised its stake in Vivakor stock. Geode Capital Management LLC increased its position in shares of Vivakor, Inc. (NASDAQ:VIVK) by 21.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 202,465 shares of the company’s stock after buying an additional 35,903 shares during the period. Geode Capital Management LLC owned 0.43% of Vivakor worth $162,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 12.31% of the company’s stock.

About Vivakor

Vivakor, Inc operates, acquires, and develops technologies and assets in the oil and gas industry and related environmental solutions in the United States and Kuwait. The company owns and operates a crude oil gathering, storage, and transportation facility in Delhi, Louisiana. It also owns a crude oil storage tank located near Colorado City, Texas.